Has BABA hit the rock bottom?
Technical analysis used is called Elliott Wave technical analysis.
We can see an almost textbook 5 waves movement down.
I have done a quick check of the validity of the count, based on the rules and:
1. Wave 2 never moves the start of Wave 1
2. Wave 3 is not the shortest out of the 3 impulse waves W1,W3,W5
3. Wave 4 never enters the price territory of Wave 1
All checked out confirming the validity of the count.
The Fibonacci sequence is the mathematical basis of Elliott Wave Analysis.Based on that and on the guidelines I can see two scenarios for Alibaba and the ending of Wave 5
1. Scenario Nr 1 - Wave 5 ending where it is now. Based on the common Fib extension of 0.382 one of the most common one for Wave 5 . This one found support 3 times in the past month at this level.
2. Scenario Nr2 - Based on the guidelines when we have an impulse wave and Wave3 is the extended one, which is the case so far, Wave 5 and Wave 1 tend towards equality. This equality would happed, guess where at 0.618 golden ratio.
I continue to be amazed by the precision of the Elliott Wave Model.
Disclaimer: This is my analysis and does not constitute financial advice.
Stocks!
Bitcoin to $20,000!? Taking a quick look at the market to build some planned buying zones. Yellow shows you the dollar zones I am looking at. Parking dry powder with some limit orders is your best option here as some exchanges have larger liquidity drops than others. I am not sure if we will head to $20k but that probability dramatically increases if we break $30k and our support line becomes resistance. If we do head there I believe it will be short lived. Watching the news on Russia, Evergrande in China exploding, FED talking or walking, and the commercial real estate market in the next few months finally showing their defaults hitting financial stocks. There is a lot going on in the short term so be nimble, be quick, or trip over the candle sticks.
DJI: Why it could go southIn this video I pay attention to 2H and 4H time frames, updating my previous video. I also compare momentum in the 2020 crash with the current picture.
In particular I look compare squeeze momentum and RSI patterns in both periods.
There is always 'hope'. But hope doesn't rule against market crashes.
This is one hypothesis - not a prediction.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Bitcoin At The Lower Side Of Trading Range.Bounce? Watch stocks!Hey traders,
Welcome to another video update for Bitcoin where I will look at some correlations with stocks that have seen a sharp sell-off recently. More weakness on stocks after FOMC tomorrow will trigger more downside on cryptos as well.
However, I think bitcoin is at the very attractive support here near 30k and Ripple at 0.50.
Please give me some feedback, leave a comment below and press a like if you love what we do.
Enjoy.
GH
GETTING READY: Looking back to 2020In this video I look back to early 2020, to see how the 40% collapse in the DJI happened.
Am I preparing for a collapse or correction? Yes I am. Preparing does not mean I am predicting.
What is see looking back is, that a 2 hour ATR trend south had developed. It is the best fit. I had tried 1H trend but that did not fit well enough, where price would stay below he ATR line.
This index has been pumped up on implicit guarantees coming from the FED. We saw a similar scenario in the mortgage markets around 2008.
Readiness is everything. When you're in a trend down, you won't really know for sure because you can't see the whole trend, like we see now looking back to 2020.
This time around, I'm getting ready. The last major correction occurred in Feb 2020. So I am on high alert all now. I'm watching every 2hour switch.
Disclaimer: This is not advice or encouragement to trade securities or any asset class. This is not investment advice. Chart positions shown are not suggestions intended to assure you of an advantage. No predictions and no guarantees are supplied or implied. The author trades mostly trend following set ups which have a low win rate of approximately 40%. Heavy losses can be expected if trading live accounts or investing in any asset class. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Palantir may have bottomed today! Start of THE next bullrun? Hello everyone,
please see my current video idea on the Palantir stock, where my count suggests a possible bottom with price target to around 220 $ area. This would be equal to a 1200% increase.
This is no financial advice, just my technical expertise.
RT
Seasonal Futures Trading Patterns S&P 500 Hey traders today I wanted to go over what I believe are the best Seasonal Futures and Forex trades during the year. There are many markets that have seasonal patterns. Such as Forex, Stocks, Futures, and Commodities. Knowing the best time to trade to look for these Seasonal Futures and Forex opportunities will help you in your trading. This series on Seasonal Futures and Forex will be ongoing with several videos. The first video will be about the S&P 500 futures and how to trade them seasonally.
Enjoy!
Trade Well,
Clifford
A NICE LONG TRADE ON CONSOLIDATED EDISON Hello traders and a HAPPY NEW YEAR!!!
My first recording video i hope you like it!!
Nice long trade on ED explained in multi-time frame analysis!
LONG TRADE
ENTRY AT 68.50$
STOP LOSS AT 66.80$
TP1 AT 77$
TP2 AT 83$
PLEASE LET ME YOUR COMMENT WITH YOUR VIEW OR YOUR QUESTION!
HAPPY TO HELP!
HAPPY PROFITS TO EVERYBODY!!
THE GREEK TRADER
Paypal (PYPL) getting interestingWas doing some weekend homework on stocks my social media followers are into while I watched the last few episodes of Billions and came to NASDAQ:PYPL . I've been watching this stock since it hit my alert at 195.59 in November. The last two weeks of price action have piqued my interest.
On the 30 minute timeframe (which I consider the swing trading timeframe) there have been two potential reversal patterns playing out. The first being an inverse head and shoulder defined by price spikes being bought up... followed by a short term Ichimoku/50% Retracement. The latter presents the favorable risk/reward scenario. Price getting back into the 180s would trigger a tight stop but if price holds this reversal a long term trader/investor would be good for the rise to retest the highs over the next year.
Stocks to Watch Relative Strength Edition The Market's longer term uptrend still intact but short term looks precarious. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 24 total stocks on this list Many of these have IPO'd in the last few years and still have a growth story ahead of them. Know your time frame and risk tolerance. Know your earnings dates! I go through these quickly so grab a pencil and paper and jot down the names that look interesting to you and then make the trade your own. Good Luck!
How Many Shares Should You Buy? Position Sizing GuideIn this video I go over 3 different position sizing methods you can use to work out how many shares to buy.
Risk management is often overlooked but it's very important to keep a consistent level of risk across all of your trades so that one trade can't blow your account up and you can remove the emotion from your trading when deciding how many shares to buy so you don't get caught up in the moment and put on a trade too big for your account.
Here are 3 examples of different position sizing methods;
POSITION SIZING #1:
- Equal Weighted Position Sizing
With this method we want all positions we open to have the same value, for example on a $10,000 account if we choose 10% position sizing, that would be $1,000 target per position. To work this out simply divide $1,000 / current stock price = shares to buy. For example on $AMC with a current stock price of $33.94 that would be 29 shares (1000 / 33.94).
POSITION SIZING #2:
- Stop Based Position Sizing
With this method we want all positions to risk the same $ amount if the trade hits our stop loss, for example on a $10,000 account a good level of risk per trade is 2%, so that would be $200. To work this out simply divide the target $ risk / size of your stop = shares to buy. For example on $AMC with a stop loss of $5.04 that would be 39 shares (200 / 5.04).
POSITION SIZING #3:
- ATR Based Position Sizing
With this method we want all positions to risk the Average True Range (ATR) * 2, for example on a $10,000 account with a target risk per trade of 2%, that would be $200. To work this out simply divide the target $ risk / ATR * 2 = shares to buy. For example on $AMC with a ATR of 2.92 that would be 34 shares (200 / 2.92 * 2).
At the end of the day it's important to find a method that suits you and your trading strategy that you can stick to consistently.
Shib Inu Review meme coin no fluffShib Inu Review meme coin no fluff. I cant say whether or not Shib Inu will reach $1 as it has its own issues to sort out. Is it possible yes is it probable thats where I take issue. I typically advise against buying too much Shib at one time because of its status so at the end of the video I would like to invite you to the Hive platform if you haven't heard of it im elated to introduce you to the platform contact me it you would like my invite code.